BookMyShow Aims to Sell 100 Million Tickets in 2016
All you need to know about BookMyShow's goals in terms of ticket sales, for the year 2016.
Mumbai, India, July 14, 2015 (Newswire.com) - BookMyShow.com, a Mumbai based online ticketing portal for events, movies, plays and concerts, owned by Bigtree Entertainment Pvt. Ltd., aims at selling 100 million tickets by the end of the current financial year. BookMyShow co founder Ashish Hemrajani said, “The size of the total addressable market in India is 500 million tickets and we are looking to tap (the remaining) 80% of the market (as well).”
Apart from booking tickets, BookMyShow is also focusing its energies on user content, through it's dedicated user review platform, the creation of special marketing campaigns, and data analytics. “We have put in place a user review system where users rate and write about movies and trailers of forthcoming movies on the mobile app. This data is not only informative for other users, but can be used to send notifications and for targeted marketing. We haven’t monetized this data as yet,” said Hemrajani.
BookMyShow, which sells tickets online to users in over 200 cities, is also looking to bring offline users on board through text message-based solutions. “There is still a class of users who live in cities and don’t use smartphones. We want to create SMS-based solutions for them. In addition, there is a lot of scope for growth in tier II and III cities,” said Hemrajani. The firm may look at strategic partnerships to tap this market, he added.
Hemrajani, who has seen the business wave in the early 90s says today’s breed of entrepreneurs is better suited to the current scenario. “The quality of ideas, ability to test these ideas, disruptive innovations and good product teams is what the ecosystem has today,” he said, adding that valuations and funding may not be the best benchmarks to judge a business.
While the goal is a lofty one, judging by the progress and the bumper success of sporting events like Pro Kabaddi and the Indian Premier Tennis League, which boosted ticket sales, the goal of selling 100 hundred million tickets is not far off.